American Oncology Network, Inc.

Overview

• IndustryServices-Health Services¹
• HeadquartersFort Myers, Florida¹
• Incorporated inDE³
• Business address14543 Global Pkwy #110, Fort Myers, Fl 33913³
• Filer categoryNon-accelerated filer, Smaller reporting company³
• Legal formCorporation

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Since its inception, AON has offered a progressive model of physician-led, community-based oncology management. AON preserves and elevates community oncology by helping its physicians navigate the complex healthcare landscape, providing them an efficient platform to work autonomously and thrive, and most importantly, improving the quality of patient care that is being delivered. We are an alliance of physicians and veteran healthcare leaders partnering to ensure the long-term success and viability of oncology diagnosis and treatment in community-based settings. As of December 31, 2024, AON’s platform includes 37 practices across 20 states and the District of Columbia (“Network Practices”). Our robust platform provides oncology practices with comprehensive support, access to revenue-diversifying adjacent services and practice management expertise to empower physicians to make cancer care …⁴ From its latest annual report

Corporate structure

American Oncology Network, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What American Oncology Network, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Inventory

Properties, in its own words

Our principal corporate offices are located in Fort Myers, Florida where we lease approximately 9,500 square feet of office space that expires in 2038. We use this facility for administration, billing and collections, technology and development and professional services. We believe that our facilities are adequate to meet our needs for the immediate future, and that, should it be needed, suitable additional space will be available to accommodate any such expansion of our operations.

We lease all of the 102 properties used for our practice locations as well as administrative facilities under operating leases. As of December 31, 2024, we have leases located in Washington, Idaho, Nevada, Arizona, Iowa, Missouri, Arkansas, Louisiana, Michigan, Indiana, Ohio, Maryland, Virginia, Florida, North Carolina, South Carolina, Georgia, Texas, Hawaii, and the District of Columbia. Generally, our leases are “net” leases, which require us to pay all of the cost

Item 2 of the 10-K filed Mar 27, 2025.⁴

Leadership

Who has led American Oncology Network, Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerTodd Schonherz Sep 20, 2023 to Jul 18, 2024¹¹
• Chief executive officerKevin Nazemi Mar 9, 2021 to Mar 9, 2021¹²
• Chief financial officerDavid Afshar Jun 13, 2024 to Jul 18, 2024¹³
• Chief financial officerKyle Francis Mar 10, 2021 to Mar 10, 2021¹⁴

Named in SEC Form D filings

People the company listed in its private-offering notices.

• Chief Financial OfficerDavid H Gould named Sep 28, 2023²⁵
• DirectorBradley M Fluegel named Sep 28, 2023²⁵
• DirectorVipul R Patel named Sep 28, 2023²⁵

Former names

• Digital Transformation Opportunities Corp.Jan 29, 2021 to Sep 20, 2023³

Timeline

1. Dec 26, 20248-K Completed an acquisition or sale; New debt or obligation²⁶
2. Dec 19, 20248-K Completed an acquisition or sale; New debt or obligation²⁷
3. Dec 18, 20248-K Shareholder vote²⁸
4. Jul 25, 20248-K Entered a material agreement²⁹
5. Jun 3, 20248-K Executive or director change³⁰
6. May 21, 20248-K Listing notice or transfer³¹
7. May 15, 20248-K Results of operations³²
8. May 3, 20248-K Executive or director change³³
9. Apr 22, 20248-K Executive or director change³⁴
10. Apr 1, 20248-K Regulation FD disclosure³⁵
11. Mar 28, 20248-K Results of operations³⁶
12. Nov 27, 20238-K Other events³⁷
13. Sep 20, 2023New chief executive Todd Schonherz becomes CEO¹¹
14. Mar 9, 2021New chief executive Kevin Nazemi becomes CEO¹²

Calendar

When it reported results

1. May 15, 2024Reported quarterly or annual results³²
2. Mar 28, 2024Reported quarterly or annual results³⁶
3. Nov 14, 2023Reported quarterly or annual results³⁸

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

165 filings to the SEC since October 2021: 5 annual reports, 10 quarterly reports, 36 major events, 35 insider forms, 7 large holders, 1 private raises, 71 other. The latest 20:

1. Mar 27, 202510-K EDGAR
2. Jan 2, 202515-15D EDGAR
3. Dec 26, 20248-K/A EDGAR
4. Dec 19, 20248-K EDGAR
5. Dec 18, 20248-K EDGAR
6. Dec 13, 2024EFFECT EDGAR
7. Dec 12, 2024S-8 POS EDGAR
8. Dec 12, 2024POS AM S-1 EDGAR
9. Nov 15, 2024424B3 EDGAR
10. Nov 13, 202410-Q EDGAR
11. Aug 15, 2024424B3 EDGAR
12. Aug 14, 202410-Q EDGAR
13. Jul 26, 2024424B3 EDGAR
14. Jul 25, 20248-K EDGAR
15. Jul 18, 20244 EDGAR
16. Jul 18, 20244 EDGAR
17. Jul 18, 20244 EDGAR
18. Jul 18, 20244 EDGAR
19. Jul 18, 20244 EDGAR
20. Jul 18, 20244 EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 2 buys and 1 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• HealthQuest Tactical Opportunities Fund, L.P.SC 13D, 1 filing Nov 9, 2023³⁹
• AEA GROWTH EQUITY FUND LPSC 13D/A, 2 filings Oct 2, 2023 to Oct 13, 2023⁴⁰
• Digital Transformation Sponsor LLCSC 13D, 2 filings Feb 14, 2022 to Oct 3, 2023⁴¹
• GLAZER CAPITAL, LLCSC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 2023⁴²

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

1. Sep 20, 2023Filed a private offering of equity²⁵ Form D: 153 investors so far Form D

SEC filer profile

How American Oncology Network, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARAmerican Oncology Network, Inc.¹
• CIK0001839998
• Employer ID (EIN)85-3984427⁴
• Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company⁴
• Incorporated inDelaware⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)8000 Services-Health Services¹
• SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance¹
• Business address14543 Global Pkwy #110, Fort Myers, FL 33913¹
• Phone833-886-1725¹
• Shares outstanding32,087,737 Common Class A shares; 14,867,850 Common Class B shares as of Mar 24, 2025⁴
• Public float$8.0M as of Jun 30, 2024⁴
• AuditorPricewaterhouseCoopers, LLP, Nashville, Tennessee PCAOB ID 238⁴
• On EDGAR sinceJan 29, 2021¹
• Filings192 in all: 8-K (39), 3 (19), 4 (18), CORRESP (13), 10-Q (12), 425 (11), 424B3 (9), UPLOAD (8)¹
  All 43 form types

  DEFA14A (6), EFFECT (5), 10-K (4), NT 10-Q (4), S-4/A (4), 4/A (3), SC 13D (3), DEF 14A (2), POS AM (2), S-1 (2), S-1/A (2), SC 13G (2), SEC STAFF LETTER (2), 10-K/A (1), 15-15D (1), 25 (1), 25-NSE (1), 3/A (1), 424B4 (1), 424B5 (1), 8-A12B (1), 8-K/A (1), CERT (1), D (1), DRS (1), NT 10-K (1), PRE 14A (1), PREM14A (1), PRER14A (1), S-1MEF (1), S-4 (1), S-8 (1), S-8 POS (1), SC 13D/A (1), SC 13G/A (1)

• Latest filingsAnnual report (10-K) Mar 27, 2025
  Quarterly report (10-Q) Nov 13, 2024
  Proxy statement (DEF 14A) Feb 9, 2023
  Latest 8-K (8-K) Dec 19, 2024

Securities registered for trading

From the cover page of the 10-K filed Mar 27, 2025 (Section 12(b) of the Exchange Act).⁴

Risk factors and legal proceedings

The risks American Oncology Network, Inc. names in Item 1A of its 10-K filed Mar 27, 2025: 49 risks under these headings, as written.⁴

• Risks Related to Our Business and Industry
• Risks Related to our Regulatory Environment
• Risks Relating to Our Common Stock and Warrants
• Our Network Practices primarily depend on reimbursement from third-party payors, as well as payments by individuals, which could lead to delays, denials, or uncertainties in the reimbursement process.
• A significant portion of our revenue is derived from a limited number of health insurance and medical group companies. Those payors could take action to remove, exclude, delay, or otherwise prevent the inclusion of our Network Practices in their provider networks.
• A significant portion of our revenue is derived from a limited number of our Network Practices. If there are unforeseen disruptions in the businesses of our top Network Practices or these Network Practices terminate their contracts with us, our revenue could decline.
• AON has identified material weaknesses in its internal control over financial reporting. If AON is unable to remediate these material weaknesses, or if it identifies additional material weaknesses in the future or otherwise fails to maintain effective internal control over financial reporting, AON may not be able to accurately or timely report its financial condition or results of operations, which may adversely affect investor confidence in AON’s business and the value of AON common stock.
• Our services are concentrated in certain geographic areas and populations exposing us to unfavorable changes in local benefit costs, reimbursement rates, competition and economic conditions.
• The AON PNC Loans and the associated restrictive covenants thereunder could adversely affect our financial condition and will restrict our ability to raise capital.
• The AON PNC Loans subject us to interest rate risk, which could cause our debt service obligations to increase significantly and potentially limit our ability to effectively refinance our indebtedness as it matures.
• A pandemic, epidemic or outbreak of an infectious disease in the United States or worldwide, similar to the outbreak of COVID-19 or the continuation of such an outbreak, could adversely affect our business, financial condition, results of operations and growth.
• If we are unable to attract new patients and to obtain new payor contracts our revenue growth will be adversely affected.

Legal proceedings

From time to time, we may be involved in various legal proceedings and subject to claims that arise in the ordinary course of business. Although the results of litigation and claims are inherently unpredictable and uncertain, we are not currently a party to any legal proceedings the outcome of which, if determined adversely to us, are believed to, either individually or taken together, have a material adverse effect on our business, operating results, cash flows or financial condition.

The opening of Item 3, Legal Proceedings.⁴